What is an Owner Statement? The Owner’s Statements are part of a vital accounting function that addresses the financial side of property management. Each property owner will receive a statement and financial payments every month, no later than the 20th of each month. The statement gives the owner a detailed account of their property’s financial performance. The financial statements for owners include the amount of money that was collected, payments, if any, that were made, and work orders with invoices for property maintenance. Statements can be retrieved at any time using our online owner portal.
The year-end statement is sent to the property owner at the end of each year, and, within 30 days of the year-end, a 1099 statement is sent to you for tax purposes, which can also be accessed through our online owner portal. To receive a 1099 statement, we required you to fill out a W-9 as required by the IRS.
Net operating income (includes rent) payments are disbursed to property owners on the 20th of every month. If the 20th falls on a weekend or holiday, the rent will be disbursed on the following business day. Owners will receive net operating income payments via direct deposit (ACH) to their bank account.